Highlights

“Move the audit-case return date in Section 263(1) from 31 October to 30 November, and the transfer-pricing date from 30 November to 31 December.”

“The audit report date is defined relative to the audit-case return date (31 October, less one month). It has no relationship at all to the non-audit return date.”

“Under Section 428 of the 2025 Act a late tax audit report attracts a fee: Rs 75,000 where the delay is up to one month and Rs 1,50,000 beyond that, charged as a fee rather than a penalty, so the reasonable-cause route does not apply.”

“The working gap between the end of the non-audit season and the audit deadline was 61 days. It is now 30.”

“The Finance Act, 2026 rewrote the return due-date table so that a business or professional assessee whose accounts are not audited now files by 31 August instead of 31 July.”

“FAQ 37 says the data in Form 26 has been aligned with the ITR so that it can be populated into the return, and so that mismatches that could trigger adjustments under Section 270(1) are reduced.”

“Rule 28(2) of the CGST Rules, inserted with effect from 26 October 2023 and amended retrospectively from that date in July 2024, fixes its value at one per cent of the amount guaranteed per annum, or the actual consideration, whichever is higher.”

“The amount payable is the aggregate of three figures: tax at 30% of the value of the undisclosed asset as on 31 March 2026; tax at 30% of the undisclosed foreign income; and an amount equal to 100% of the tax in (i) and (ii).”

“For a company with a 31 March year end, the annual general meeting for FY 2025-26 is due by 30 September 2026 — but only if your last AGM was held on or after 30 June 2025.”

“Amend the articles under section 14, by special resolution, to carry across the clauses that need to operate against the company — transfer restrictions and pre-emption, the board-composition mechanism, the reserved matters, and any consent requirement the investor is relying on.”

“If you missed your due date for AY 2026-27, you can still file a belated return under Section 139(4) up to 31 December 2026.”

“Filing GSTR-9 on 31 December and the 9C in March does not save you anything, because the annual return is not treated as furnished until both are in.”

“If your aggregate turnover for the year is up to ₹2 crore, you are exempt from filing GSTR-9 at all — and that exemption is now standing law, not a favour renewed each year.”

“Income for FY 2025-26 — i.e., the income you are about to file ITR for in July / October 2026 — is not labelled "Tax Year 2025-26". It remains AY 2026-27 under the 1961 Act.”

“The rate for transfers on or after 23 July 2024 is 12.5 % on gains exceeding Rs. 1,25,000 in the year (the threshold is per assessee per year, not per stock or per scheme, and applies after intra-head set-off of any current-year capital losses under Section 70).”

“The rate for transfers on or after 23 July 2024 is 20 % (was 15 %). Surcharge and 4 % cess apply.”

“You can file ITR-1 (Sahaj) only if every one of these conditions holds: You are a resident individual (not RNOR — resident but not ordinarily resident, and not non-resident).”

“Under the RBI direction dated 26 October 2023, effective from 26 April 2024, every CIC must give you one free full credit report including the score per calendar year (January–December), via electronic delivery after authentication.”

“Per RBI Notification dated 8 August 2024, banks and NBFCs (Credit Institutions, or CIs) must now report your credit information to CICs twice a month — on the 15th and the last day of each month — instead of once a month.”

“Section 44AD presumptive scheme: Available for F&O (eligible business) up to Rs. 3 crore turnover if cash receipts ≤ 5 % — declare ≥ 6 % of digital turnover as profit and skip the audit.”